THE DEBT EXPLOSION: WHO CARES?

http://www.visionandvalues.org/wp-content/uploads/2012/04/feature-2012-04-yoyo.jpg

That screaming headline encapsulates America’s changed relationship to the matter of private and public debt. It’s the only way to understand why we’ve all taken on debt–risky mortgages, students loans, sub-prime car loans–you name it, sensing that it’s OK and, in fact, encouraged in our society. Why not? Our public debt requires a constant bumping of the debt ceiling and the numbers are so staggering that they go beyond any true reckoning. How did a nation founded on concepts like Benjamin Franklin’s : ‘Neither a borrower, nor lender be’ end up here. Mark Hendrickson, an economist and fellow for economic and social policy with The Center for Vision & Values at Grove City College in Pennsylvania, joins me for a freewheeling discussion on the topic

http://www.visionandvalues.org/author/mark-w-hendrickson/